The number of Bitcoin ATMs approaches a historic mark amid a pandemic

ATM Bitcoin

In 2020, with the global financial crisis caused by the new coronavirus pandemic, investors are turning to safe assets. Some of the preferences have been Bitcoin and gold, which can be important assets for stockpiling.

Now imagine yourself a resident of Portugal, for example, with a 100 Euro bill in hand, and willing to buy a fraction of Bitcoin. Analyze the price of Bitcoin today, you would be able to acquire 0.010 BTCs. However, how to make this exchange with physical money?

One of the solutions created to get around this dilemma is the Bitcoin ATM, also known as ATMs. By inserting a fiat currency note at the ATM, such as Euro, Dollar, you would be able to withdraw your Bitcoins, either for a virtual or physical wallet (paper wallet).

Solution considered important for many in the Bitcoin community, the number of cryptocurrency-related ATMs increases in 2020. According to the Bitcoin.com portal, the brand has approached 9,000 machines for withdrawals and deposits with fiat currencies in exchange for Bitcoin.

Currently, the country that leads the ranking with the highest number of Bitcoin ATMs is the United States, with more than 6800 machines just there. Next comes Canada, with around 810 machines and in the third position, the United Kingdom with almost 280 machines to buy and sell Bitcoin.

It is worth mentioning that, in July 2020, there was an increase in the number of machines installed. However, the 9 thousand mark in operation was not surpassed only by 100 machines were shut down. Even so, the historic milestone of 10,000 machines is getting closer and closer.

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Evaristo Mulonde

Evaristo Mulonde

Evaristo Mulonde is a cryptocurrency community manager, Yetubit and Bitcoin Angola, a cryptocurrency trader and fascinated by Blockchain technology